4 ms·

There actually used to be accounts like this. Apparently common in some parts of the world, not so much in the US. https://en.wikipedia.org/wiki/Tontine https:

• ThrustVectoring 9y ago
  Old-style tontines are not actuarially fair - they are significantly more valuable for you if you have a higher life expectancy. It transferred wealth from older individuals with a higher chance of dying to younger individuals with a lower chance, with the obvious failure mode of a tontine being something you sign your children or grandchildren up for. Actuarially fair tontines would yield mortality credits based off age and amount invested. So if you had a 10% risk of dying in a year based off actuarial tables, and you had a balance of $10k, you'd have 1000 mortality credit units. 1% chance of dying means only 100 mortality credits. So there's no advantage to signing up younger folks - the lower risk of dying proportionally lowers the mortality credits earned.